Ivanhoe Social Club : RULES

NAME, OFFICE AND OBJECTS OF THE SOCIETY

1. The Society is a Working Men’s Club, and shall be called
the “IVANHOE SOCIAL CLUB” (hereinafter called “the club”),
and its registered office shall be Wilfred Place, Ashby-de-la-Zouch,
in the county of Leicester, or such other place as a special general
meeting may determine, and notice of any change in the situation of
the registered office shall be sent to the FSA within 14 days in
manner and form provided by the Treasury regulations.

The objects of the club are to afford to its members the means of social
intercourse, mutual helpfulness, mental and moral improvement, and rational
recreation.

MEMBERSHIP

ADMISSION OF MEMBERS

3. A candidate for election must be proposed and seconded by two
financial members who have been members of the club for at least one year,
able from personal knowledge to vouch for his respectability and fitness to be
a member, and must sign such (if any) declaration of his concurrence with,
and adherence to, the purposes of the club as shall be required by the Committee.
A newly elected candidate shall pay an entrance fee as determined by an Annual
General Meeting or a Special Meeting called for that purpose. The election shall
be by the committee, and no candidate shall be elected who is under 18 years of age.
The name, address, and occupation of the candidate, with the names of his proposer
and seconder, shall be posted in the club for at least seven days before the day
in which his name is submitted for election.

Every member on election shall be supplied with a copy of the rules, at such
charge, not exceeding 10p, as the committee may determine from time to time.

SUBSCRIPTIONS

4. The subscription shall be such sum per year as may be proposed by the
committee and agreed at an annual or half-yearly general meeting, or at a special
general meeting convened for this purpose, and which shall not exceed £50.00,
payable in advance on the first day of January.

New members admitted after 31st August each year shall pay one half of the
annual subscription for that part-year. Any member who shall not have paid his
subscription within 21 days of its becoming due on the day above stated shall be
considered in arrear, and if he has not paid it within a further period of 21
days shall cease to be a member. The secretary shall post in the club a list of
members in arrears and no such member shall be permitted to make use of the club,
or be considered a financial member for the purpose of these rules.

The committee on receiving information by notice in writing, addressed to the
secretary, that any member is unable to pay his subscription owing to want of
work or other good cause, may, at its discretion, direct his name to be omitted
from such list, whereupon such member shall not forfeit the privileges of
membership.

NOTIFYING CHANGE OF ADDRESS

5. The committee shall keep at its registered office a list of the
names and addresses of the members. Every member shall within 14 days, give
notice to the secretary of any change in his address.

The names of those who cease to be members shall be erased from the list.

CESSATION OF MEMBERSHIP

6. Members shall cease to be members:—

(i) By non-payment of subscription under Rule 4.
Any person whose membership has ceased from this cause shall not be again
nominated for membership unless he previously pay all arrears due from him
at the time of ceasing to be a member, and such other additional fee or fine
as the committee may, in its discretion, determine.

(ii) By expulsion.

(iii) By resignation. Any member wishing to resign must send written notice
to the secretary, and the notice must be accompanied by the subscription due up
to the date of its taking effect.

(iv) By death.

GENERAL MEETINGS

7. Meetings

(1) Ordinary Meetings. — The Annual Meeting shall be held not later
than 30th of April of any year, and a half-yearly meeting shall be held within
six months of the annual meeting; the dates of such meetings to be fixed by the
committee. At least seven days notice, with an agenda of the business, shall be
posted in the Club of each meeting. The statement of accounts and balance sheet,
with the auditor’s report shall be given at the annual meeting and a statement
of accounts only at the half-yearly meeting, and at both meetings such other
business as may be submitted by the committee, or by any member who shall have
given due notice of the motion he proposes to make, at least nine days before
the date of such meeting; and at the annual meeting and half-yearly meeting,
a report for the preceding half-year shall be presented by the committee.

(2) Special Meetings — How to be called. A special meeting shall be
called by the secretary in the following cases:—

(a) Upon the direction of the committee and in accordance with such
direction.

(b) On a requisition signed by thirty members or one-fifth of the
total number of members stating the special object thereof. Such
meeting shall be held within not less than 14 and not more than 21 days
from the date of the receipt by the secretary of the requisition.

Notice of any special meeting, and of the object for which it is called, shall
be posted by the secretary in the club at least ten days prior to the date of the
meeting, except in the case of a special meeting called by the secretary under the
provisions of Rule 9(3). Should the Secretary not convene a special meeting in
manner required hereby for seven clear days after a duly signed requisition has
been delivered to him, any of the requisitionists may call such meeting, giving
such notice as is provided by this rule.

Business

No other business other than that named in the notice shall be bought before a
special meeting.

(3) Quorum - A General meeting may proceed to business if ten members
are present within an hour after the time fixed for the meeting, otherwise the
meeting, if convened on the requisition of the members shall be dissolved, but
if a meeting convened by order of the committee, it shall stand adjourned to the
week following at the same time, and the meeting so adjourned may proceed to
business, whatever be the number of members present. No meeting shall become
incompetent to transact business from the want of a quorum arising after the
chair has been taken.

(4) Adjournment - Any general meeting, duly constituted, may adjourn to
such time as a majority of members present direct, and may continue any such
adjournment from time to time. No business shall be brought on at any adjourned
meeting which could not have been transacted at the original meeting.

(5) Rescinding Resolutions - No resolution passed by a general meeting
shall be rescinded unless notice has been given at a previous general meeting.

(6) Voting - Each financial member shall be entitled to one vote.

OFFICERS

8. The club shall have the following Officers:

Three Trustees,

a President,

Chairman of the Committee,

Treasurer and

Secretary.

The President shall take the chair at all Club meetings and functions or in his absence
the Chairman of the Committee.
The Trustees shall be appointed only at a general meeting by a resolution of a majority
of the members present and entitled to vote thereat, and shall remain in office during
the pleasure of the club. The Committee shall appoint, and may remove, the Secretary.
The President shall be nominated by the committee for election by the members at a
general meeting. He shall remain in office during his own pleasure or until removed
from office.
The Chairman of Committee and the Treasurer shall be elected annually by ballot at the
annual meeting, and they shall remain in office until their successors are duly appointed.
Any of the officers, other than the Secretary, shall be removable at any time provided
that two-thirds of the members present at a special meeting called for that purpose shall
vote in favour of such removal.

In the event of a vacancy arising amongst the officers (other than the Trustees) by death,
resignation, or other cause, the committee shall have power to elect a member to fill the
vacancy until the next election. Any officer shall vacate his office if suspended from
membership under Rule 23 or upon ceasing membership from any cause.
In case any Trustee being removed shall refuse or neglect to resign or transfer any property
of the club's the committee of management shall direct, he shall (if he be a member) be
expelled from the club, and shall cease to have any claim on the club on account of any
contributions paid by him, without prejudice to any liability to prosecution which he
may have incurred.

Notice of any resolution appointing a Trustee shall be sent to the Registrar within
14 days, in the form provided by the Treasury regulations.

The officers of the club shall receive such honorarium, if any, or in the case of the
secretary, such salary as the committee or a general meeting of the members may from
time to time determine.

Every officer dealing with the moneys of the club shall be insured by a recognised
guarantee society for the due performance of his duties in such sum as a general
meeting of the members may determine.

COMMITTEE OF MANAGEMENT

9. Constitution and Powers
(1) The managing committee shall consist of the chairman, President, treasurer,
the three trustees, and not less than six nor more than ten committeemen who shall
be above 21 years of age. There shall be an election of FIVE committeemen each
half-year at the ballots held after the ordinary meetings, and such committeemen
shall hold office for one year. The committee shall control the management of the
club, and shall have exclusive power to engage or dismiss a steward and the other
servants. It shall have power to purchase such articles and do all such things,
as it may deem necessary for the carrying out of the objects of the club.
It shall have due regard to any resolution or recommendation of any general meeting,
but shall not be bound to give effect to the same if in its judgement such action
would be injurious to the best interests of the club. Nothing in these rules shall
enable the committee to declare any dividend or make any monetary grants to the
members, or to apply club funds, except for the purposes of the club itself,
and for the purposes specified in Rule 16.
The committee shall not enter into any
bond or agreement binding the club to purchase excisables from any person or persons
or in any way to part with its absolute control and that of the club members over
the supply of excisable articles to the club. It shall meet once a month for general
business, and the Chairman, or in his absence, an elected Deputy, shall preside and
shall have a casting vote only, and not less than one-third of the total number of
the committee shall form a quorum. No resolution of the committee shall be rescinded
unless notice to rescind has been given at the previous meeting of the committee.Retirement, Vacation or Cessation of Membership
(2) Any committeeman, other than the officers mentioned in Section (1) of this rule,
not attending for three consecutive meetings, shall unless he send an explanation
which the committee consider satisfactory, cease to be a member. Any committeeman or
officer who shall cease to be a financial member, or who is suspended under
Rule 23,
or who shall cease membership of the club by any reason, shall vacate his seat.
Any vacancy so occurring, or by any other cause, may be filled by the committee.
The senior part of the committeemen, which shall mean all those members who were
elected before the date of the last election, shall retire every six months, but
shall be eligible for re-election. Any members selected to fill a vacancy shall
retire with the senior part. Where this rule does not apply, the retiring
committeemen shall be elected by ballot by the committeemen.Removal or Resignation(3) The committee, or any member or members thereof, may be removed by a majority
of two-thirds of the members present at a special meeting called for that purpose.
In the event of the removal or the resignation of the whole or the majority of
the committee, the secretary shall obtain propositions and appoint scrutineers
and arrange for holding a ballot. Three days shall be allowed for propositions
and the ballot shall be held on the succeeding three days, and the result shall
be declared by the scrutineers by notice posted in the club.

FINANCE

10. The Committee shall at each meeting receive the Treasurer’s report
which shall include a record of the stock of goods held on the first convenient
day in each month taken by an agent duly appointed for that purpose.
The Treasurer’s report will also include a record of receipts and payments in the
month preceding the month in which the report is received. The Treasurer will
present outstanding accounts to the Committee and they will give their approval
for payment if deemed to be proper. All cheques drawn upon the club’s account
shall be signed by one authorised signatory and the secretary.

ORDERS

11. The committee, or any officer authorised by them, shall have the power
to give orders for such goods to be supplied and work to be done as may be necessary
for carrying out the purposes of the club; but nothing in this rule shall empower
the committee to incur expenditure, except such as is consistent with the purposes
for which the club is established provided that the Committee shall not without the
prior approval of the Annual General Meeting or a Special Meeting called for that
purpose expend more than £15,000 on any single item or project or related items or
projects save that this proviso shall not extend to the payment of wages or accounts
rendered to the Club for the supply of beers, wines, spirits, etc. or to the payment
of proper taxes levied on the Club.
No officer, or committeeman of the club shall, by virtue of his appointment, have
power to order goods or dispose of the funds of the club. No goods or labour shall
be supplied, nor any contract entered into for work to be done for the club nor any
office of salary, profit or remuneration be held by any member of the committee
unless authorised by a general meeting.

LIABILITY OF TRUSTEES

12. All the property of the club shall be vested in the trustees representing
and acting for the whole of the members of the club. No personal liability shall
attach to any trustee, except to the extent of such funds of the club as may be
actually received by him.

TREASURER

13. The duties of the Treasurer are contained on file and are subject to
direction and review by the Committee.

SECRETARY

14. (1) General Duties.
The duties of the Secretary are contained on file and are subject to direction and
review by the Committee.
(2) Annual Return to Registrar
The Secretary shall send to the FSA once in every year, not later than 31st May,
an annual return relating to the club’s affairs for the period required to be
included in the return. The annual return must be made up for the period beginning
with the first day of January of the year preceding the year in which the return is
required to be sent, and ending with the 31st December then last inclusive.
The return must be made in the form prescribed by the FSA, and contain such
particulars as may from time to time be required by the return. A copy of the
report of the auditor on the accounts and balance sheet contained in the return must
accompany the annual return.
(3) Copies to Members
A copy of the last annual return or balance sheet or other document, duly audited,
containing the same particulars relating to the affairs of the club, as are contained
in the annual return together with a copy of the report of the auditor on the accounts
and balance sheet contained in the return or on that balance sheet or document so
supplied as the case may be, shall be supplied gratuitously on demand to every member
or person interested in the funds of the club.
(4) Balance Sheets to be posted
A copy of the account or accounts and balance sheets covering the year ending on the
previous 31st December, as audited, and the report of the auditor on the balance sheet
and accounts shall be posted in a conspicuous place in the Club.

15. AUDIT

(1) The Club shall in each year of account appoint a qualified auditor to audit its
accounts and balance sheet for that year. For the purposes of this rule “qualified
auditor” means a person who is a qualified auditor under section 36 of the Friendly
Societies Act 1974, or any statutory modification or re-enactment thereof.
(2) Save as provided in paragraph (3) of this rule every appointment of an auditor
shall be made by resolution of a general meeting of the Club.
(3) The Committee may appoint an auditor to fill any casual vacancy occurring between
general meetings of the Club.
(4) A qualified auditor appointed to audit the accounts and balance sheet of the Club
for the preceding year of account (whether by a general meeting or by the Committee)
shall be re-appointed as auditor of the Club for the-current year of account (whether
or not any resolution expressly reappointing him has been passed) unless :

(a) a resolution has been passed at a general meeting of the Club appointing
somebody instead of him or providing expressly that he shall not be re-appointed
or

(b) he has given to the Club notice in writing of his unwillingness to be
re-appointed or

(c) he is ineligible for appointment as auditor of the Club for the current
year of account or

(d) he has ceased to act as auditor of the Club by reason of incapacity.

Provided that a retiring auditor shall not be automatically re-appointed by virtue of this
rule if notice of an intended resolution to appoint another person in his place has been
given in accordance with paragraph (5) of this rule and the resolution cannot be proceeded
with because of the death, incapacity or ineligibility of that other person.
(5) A resolution at a general meeting of the Club
(i) appointing another person as auditor in place of a retiring qualified auditor or
(ii) providing expressly that a retiring auditor shall not be re-appointed shall not be
effective unless notice of the intention to move it has been given to the Club not less
than twenty-eight days before the meeting at which it is moved. On receipt by the Club of
notice of the intention to move any such resolution the Club shall give notice of the
resolution to the members in accordance with Section 34 of the Friendly Societies Act
1974 or any statutory modification or re-enactment thereof. The Club shall also give
such notice to the retiring auditor in accordance with section 35 of the Friendly
Societies Act 1974 or any statutory modification or re-enactment thereof and shall
give notice to the members in accordance with that section of any representations made
or intended to be made by the retiring auditor.
(6) None of the following persons shall be appointed as auditor of the Club.

(a) an officer or servant of the Club,

(b) a person who is a partner of or in the employment of or who employs
an officer or servant of the Club, or

(c) a body corporate.

(7) The auditor shall in accordance with section 38 of the Friendly Societies Act 1974,
or any statutory modification or re-enactment thereof, make a report to the Club on the
accounts examined by him and on the revenue account or accounts and the balance sheet
of the Club for the year of account in respect of which he is appointed.

APPLICATION AND INVESTMENT OF FUNDS

16. (1) All moneys received on account of the club, from any source, shall in no
case be distributed amongst the members, but shall be applied towards carrying Out the
objects of the club, or shall be invested by the trustees in such ways, and upon such
of the following securities as the committee, or a majority of the members at a general
meeting may decide:—

(a) In the National Savings Bank.

(b) In the purchase of land or buildings as after-mentioned
(Rule 17) or in
the erection or alteration of a club house or other buildings thereon.

(c) On the securities of any society registered under the Industrial and
Provident Societies Acts, or under the Building Societies Acts, or of any
company incorporated by Royal Charter or Act of Parliament provided that such
society or company has its liability limited, or in any investment in which
trustees are, for the time being, by law authorised to invest trust funds.

(2) The club may subscribe out of its funds, as provided by Section 52 of the Friendly
Societies Act 1974 to any convalescent home, hospital, infirmary charitable or provident
institution, any annual or other sum which may be necessary to secure to members of the
club or their families the benefits of such institutions.
(3) Provided always that nothing shall authorise any investment of the funds in any
manner contrary to law, or in the purchase of shares or proprietary stock of any company.

ACQUISITION OF LAND

17. The trustees may, when authorised thereto by a general meeting, or by the
committee, hold, purchase, or take on lease any land or buildings, and may sell, exchange,
mortgage, lease, or build upon the land, with power to alter and pull down buildings and
again rebuild.

CONDUCT OF ELECTIONS

18. (1) Nominations
The election of officers (except trustees) and committeemen shall be by ballot. At least
two weeks before the day fixed for any ballot a nomination sheet shall be posted in the
registered office by the secretary, on which the names of all candidates for any office
must be entered, and such sheet shall remain open until 48 hours before the general meeting.
No member shall be eligible for nomination unless he is and has been a financial member
for at least twelve calendar months, and has been proposed and seconded by two financial
members, who must themselves sign the sheet. No member under suspension at the date of
the closing of the nomination sheet shall be eligible for nomination. No candidate shall
be nominated for more than one office. No member holding office whose terms of office is
not about to expire may become a candidate unless he first resigns from the office he
holds.
(2) Scrutineers
The ballot shall be carried out under the directions of the committee by two scrutineers
appointed by the general meeting, who may not be candidates, committeemen or officers.
(3) Ballot. When held.
Ballots shall be held during the ordinary general meetings. The result shall be made
known by the posting of a notice in the club-house attested by the signatures of the
scrutineers, recording the number of votes polled by each candidate, and indicating
which of the candidates are elected.
(4) Who may Vote.
Each financial member of the club shall have one vote for each vacancy, but no member
may give more than one vote to any one candidate.
(5) Tie.
Should the ballot result in two or more candidates receiving an equal number of votes,
the names of such candidates shall be written on slips of paper, which shall be
placed so that the names are concealed, and the president, or in his absence some
person appointed by the scrutineers, shall then draw as many slips as there are
vacancies to be filled, and the names so drawn shall be declared duly elected.

SCRUTINY

19. The scrutineers shall at the conclusion of the ballot, seal up the ballot
papers and hand them to the secretary, who shall retain them for seven days.
A scrutiny shall take place if a written demand be presented to the secretary within
seven days from the close of the ballot, signed by not less than one-tenth of the
financial members, and the scrutiny shall be carried out by three fresh scrutineers,
to be named by the committee, and their decision shall be final.

INSPECTION OF BOOKS

20. Any member or person having an interest in the funds of the club shall,
at all reasonable times, be entitled to inspect all books of accounts, at the
registered office, or at any place where they are kept, and it shall be the duty
of the secretary to produce them for inspection.

SETTLEMENT OF DISPUTES

21. All disputes between a member or person aggrieved who has ceased to be
a member, or any person claiming through a member or such person aggrieved, or
under the rules, and the club or any officer of the committee shall be decided by
reference to arbitration. Five arbitrators shall be elected at a general meeting,
none of them being directly or indirectly interested in the funds of the Club,
and any vacancy or vacancies shall be filled at a general meeting.
The complaining party to a dispute, or someone appointed by him, shall draw
three names out of the five by lot in the usual way and the three arbitrators
whose names are first drawn shall decide the dispute.
The expression “dispute” includes any dispute arising on the question whether
a member or person aggrieved is entitled to be or to continue to be a member
or to be reinstated as a member, but, save as aforesaid, in the case of a person
who has ceased to be a member, does not include any dispute other than a dispute
on a question between him and the club or an officer thereof which arose whilst
he was a member.

MISCONDUCT OF MEMBERS

22. No drunkenness, bad language, or other misconduct shall be permitted
on the club premises. Any member offending under this rule shall be dealt with
by the committee under Rule 23.
Intoxicating liquor required for consumption off
the premises shall be supplied to members only whilst on the club premises.
Any officer shall be empowered to order the withdrawal of any member offending
under any of the heads specified in this rule from the club premises and such
members shall have no right of re-entry to the club premises until summoned to
meet the committee as provided in Rule 23.
In the absence of any officer the
Steward shall be empowered to order the withdrawal of any member offending
under the heads specified in this rule from the club premises, providing that
he does this in the presence of a committeeman. If the next ordinary meeting
of the committee be within less than three days such member may claim to appear
before them, and to have his case dealt with, waiving the length of notice
required under Rule 23.

POWER OF COMMITTEE TO SUSPEND OR EXPEL

23. The committee shall have power to reprimand, suspend or expel any
member who shall infringe Rule 22,
or other rules or by-laws or whose conduct,
whether within the club house, or elsewhere, shall, in their opinion, render
him unfit for membership of the club; but no member, unless convicted of an
offence by a court of summary jurisdiction or other court shall be suspended
or expelled without being first summoned before the committee and full
opportunity afforded him to explain his conduct, nor unless two-thirds at
least of the committee then present shall vote for his suspension or expulsion.
Every member so summoned shall (unless he shall elect to waive his right as
provided in Rule 22)
receive at least three clear days’ notice in writing
from the secretary. Such notice shall contain a statement of the charge brought
against him. A suspended member shall forfeit all his rights and privileges
under these rules, but shall remain liable to pay his subscription during his
supsension, and if an officer or member of the committee he shall vacate his
office or seat.

INTRODUCTION OF GUESTS

24. A member may personally introduce friends as his guests.
No person shall be introduced more than twelve times in any one year and no
member may introduce more than two friends at any one time. The Visitor and
the member introducing him shall sign their names in a book kept for that
purpose. No member shall be entitled to introduce a visitor during the hours
when licensed premises in the locality are not open for the sale of intoxicants
to the public. These conditions shall not apply to the introduction by a member
of his wife or other lady, the admission of whom shall be subject to such
regulations as may from time to time be made by the committee. The following
shall not be admitted as visitors:

(i) Former members who have been expelled.

(ii) Former members who have ceased to be members under Clause (i)
of Rule 6.

(iii) Persons who, having been nominated for membership, have been
rejected.

(iv) Members who are under suspension.

EXCISABLE ARTICLES

25. Should any visitor pay for intoxicating liquor served to him, he
shall at once be removed from the club premises, and the member introducing such
visitor may be expelled from membership on the fact being duly proved; and it
shall be the duty of any officer or member of the club, becoming aware of such
breach of the rules, to report it at once to the secretary or committee.

RULES

26. (1) Amendment
These rules may be amended only at a general meeting called for that purpose.
Notice of any proposed amendment shall be posted in the club for at least 14
days previous to the meeting to which the amendment is to be submitted.
Any amendment shall require a majority of at least two-thirds of the members
present at such meeting; except in the case of anything affecting the objects
of the club, or of its registration under the Friendly Societies Act, in which
case no amendment shall be made except by the votes of three-fourths of the
members voting at a ballot of the whole of the members, which shall be taken
in the manner provided in Rule 18.
No amendment of these rules, whether by general meeting or committee, is valid
until registered with the Registrar of Friendly Societies.
(2) Supply.
The secretary shall be supplied by the committee with copies of the rules,
and shall be bound to deliver a copy to any person on demand, on such payment
(not exceeding 10p) as the committee may from time to time determine.

BY-LAWS

27. The committee shall have power to make such by-laws as it may consider
necessary for the good government and order of the club, providing that no such
by-law shall conflict with any of the rules. A copy of all such by-laws shall be
posted in a conspicuous place within the club-house.

DISSOLUTION

28. The club may at any time be dissolved by the consent of three-fourths
of its members, testified by their signatures to an instrument of dissolution in
the form provided by the Treasury regulations in that behalf.

HOURS OF OPENING AND CLOSING OF THE CLUB PREMISES

29. The Club shall be opened and closed at such hours as may from time to
time be fixed by the Committee and posted in the Club premises.

PERMITTED HOURS FOR SUPPLY OF INTOXICANTS

30. The Committee shall have power to fix permitted hours for the supply
of intoxicants in the Club and from time to time to alter the hours so fixed
provided that:
The hours fixed shall not on any day be longer, nor begin earlier or end later,
than the general licensing hours for the time being in force for the district
in which the Club is situate.

LIFE MEMBERSHIP

31. On the recommendation of the committee an annual general meeting may
grant life membership to any member who has rendered special service to the club
or who in the opinion of the committee is deserving of the distinction.
Life members shall not be liable to pay subscriptions under
Rule 4.
They shall be entitled to the same rights and privileges and be subject to the
same rules and by-laws as ordinary members.

SENIOR MEMBERS

32. Ordinary Members on attaining 65 years of age shall on the
1st January next following such attainment become Senior Members and as
such shall pay such subscription as is required under Rule 4.
They shall be entitled to the same rights and privileges and be subject to the
same rules and by-laws as ordinary members.

BORROWING MONEY

33. (1) If at any time the Club in general meeting shall pass a resolution
authorising the Committee to borrow money, the Committee shall thereupon be
empowered to borrow for the purposes of the Club such amount of money either at
one time or from time to time and at such rate of interest and in such form and
manner and upon such security as shall be specified in such resolution, and
thereupon the Trustees shall at the direction of the Committee make all such
dispositions of the Club property or any part thereof and enter into such
agreements in relation thereto as the Committee may deem proper for giving
security for such loans and interest. AlI members of the Club, whether voting
on such resolution or not, and all persons becoming members of the Club after
the passing of such resolution, shall be deemed to have assented to the same
as if they had voted in favour of such resolution.
(2) Notwithstanding the provisions of paragraph (1) of this rule the Committee
may borrow money at any time and from time to time provided that:

(a) the total liability of the Club in respect of all money so
borrowed shall not exceed £20,000 at any time and

(b) no such borrowing shall be secured by any charge on the Club’s
assets.